ACC on track to self-fund by 2019, setting up significant levy reductions in future

Thu, 14 Feb 2013

By Paul McBeth Feb. 14 (BusinessDesk) - Accident Compensation Corp, whose board and executives were purged last year in the fallout of major privacy breaches, is on track to fully-fund its accident coverage, paving the way for significant and long-term cuts in future levies. Chair Paula Rebstock told Parliament's transport and industrial relations committee the state-owned insurer is "very much on track" to full funding in six years, which could give ACC room to deliver cheaper levies. "That sets us up really for an overall situation where...
Economy
BRIAN GAYNOR: Aluminium smelter reaches use by date
Brian Gaynor | Sat, 11 Jul 2020

The negative market reaction to Rio Tinto’s announcement that it was winding down the Tiwai Point aluminium smelter was overdone, particularly for investors with long-term perspectives. The smelter...

Markets
MARKET CLOSE: NZ shares fall as energy sector sell-off continues
Dan Brunskill | Fri, 10 Jul 2020

New Zealand shares fell as energy stocks declined for a second day following the announcement Rio Tinto’s New Zealand aluminium smelter will close. Chorus led the market lower on the risk of more r...

Finance
Metlifecare and EQT enter new $6 per share takeover agreement
Jenny Ruth | Fri, 10 Jul 2020

Metlifecare said it has entered into a new scheme of arrangement with Swedish company EQT to buy all its shares for $6 each, a dollar less than the earlier deal EQT had repudiated, but only four of th...

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